Christine Lelond Your Home Expert

(306) 230-5220



On moving day, you'll have a big task. You’ll need to get your possessions from your old property to your new one — ideally without delays or damage! Surprisingly, many people underestimate the time and costs involved in doing that. Careful planning and budgeting are crucial to ensuring moving day goes smoothly.


You basically have three options:


1. Hire a moving company to handle everything.


2. Hire a truck and crew, while doing some of the work yourself. (For example, you can pack and help with loading.)


3. Do it all yourself by renting a moving van and getting friends and family to help.


If you're going with option one, get quotations as early in the buying/selling process as possible. Services, costs and quality vary widely among full service moving companies.


If you're going to do some or all of the move yourself, the best place to start is by making a list of what you'll need. In addition to renting a moving van, or hiring a truck and crew, there are many supplies you may require. For example, you’ll need boxes, protective fill and/or wrapping (i.e. bubble wrap), markers for labeling boxes, packing tape, and more.


You may decide to rely on friends to help load the truck on moving day. That's fine. Just be sure you have enough people to do the job within a reasonable time frame, and confirm everyone's attendance at least a couple of days before.

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Imagine driving through a desirable neighbourhood and, just as you turn a corner, you see the absolutely perfect home. Guess what? It's for sale! But, there’s a problem. Your current property isn't on the market. In fact, until this moment, you hadn’t seriously considered moving.


So what do you do?


Your first step is to find out more about the listing. Get a description of the property. Find out the listing price. Check out the size, layout, number of bedrooms and other features. If it all looks good, schedule a viewing.  


Chances are, you can do all that in less than a day.  


If you go to see the property and still love it, your next step is to determine if it fits within your budget. To do that, you'll need to quickly find out the Current Market Value of your home — what it will likely sell for — so you can determine how much money you'll have available after your outstanding mortgage and any other costs are deducted. It’s a smart idea to speak to your lender about getting a pre-approved mortgage at this point too.


Next, you'll need to make an offer on the new home. Depending on the competitiveness of the neighbourhood, and the likelihood of multiple offers, you might need to list your home first. That, along with a pre-approved mortgage, will make your offer more credible.


You might end up buying the new home before your current property sells. Although that might cause some jitters, this scenario happens all the time in real estate. If you do the right things, and prepare your home properly, there's a good probability it will sell in time and that everything else regarding the two transactions will go smoothly.


But, you do need to move quickly and make some fast decisions if you want to get that perfect home.


I can help.  Call me.

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April housing demand in the Saskatoon region was the strongest in three years, as sales jumped 18 per cent over the same month of 2018.

The Saskatoon Region Association of REALTORS® (SRAR) reported 513 sales on the MLS® system, up from 433 last April and 414 in 2017. Those sales generated a dollar volume of $169.6 million, up 12 per cent from last year’s $152 million and 14 per cent from $147 million in 2017. Year-to-date, sales are up seven per cent to 1,440, as compared to 1,342 in 2018 and 1,368 in 2017. Dollar volume is up three per cent to $460.2 million from last year’s $447.8 million.

The spring market usually brings an increase in listings, and April followed that tradition. Listings rose four per cent to 1,295, although year-to-date listings are down slightly to 3,971 from 3,989. Compared to the 4,475 properties posted in the first four months of 2017, however, listings are down significantly.

“People came out of hibernation and said, it’s time,” said Jason Yochim, CEO of SRAR. “We’re seeing the beginning of a spring market, which is nice.”

Other factors potentially influencing the market include stable interest rates and lower prices, he added. “There’s less inventory and people are buying what they’re finding on the market,” Yochim said. “It’s feeling more like it’s time to make that move.”

In the city of Saskatoon, the number of properties brought to market actually fell two per cent in April to 774, down from 787 last year and significantly down from the 842 listed in April, 2017. Year-to-date, 2,511 homes have been listed, down three per cent from 2,594 in the same period of 2018. Listings in 2017 were considerably higher, at 3,024.

April sales in the city proper came in at 380, up 14 per cent from last year’s 333 and generating a 16 per cent increase in the dollar volume, to $130.4 million. That figure is up from both 2018 and 2017, when $112.7 million and $113.6 million in sales were recorded, respectively. So far this year, Saskatoon sales are up seven per cent to 1,047, up from 978 in 2018.


The average selling price in the city increased one per cent to $343,121 in April, up from $338,438 last year. Year-to-date, the price remains down by two per cent at $327,995. The region surrounding Saskatoon, including towns and cities such as Warman, Martensville and Dalmeny, saw a whopping 25 per cent increase in dollar volume to $31 million on 105 sales, up 36 per cent from 77 last year. The average price was down eight per cent to $295,780.


Active listings in Saskatoon as of April 30 were down three per cent to 1,778 from 1,834 last year, and up four per cent in the region, to 1,083.

Stronger sales activity was reflected in Saskatoon’s sales to listing ratio, which at 49 per cent is considered a balanced market. “It’s an encouraging sign,” said Yochim. “A balanced market offers a good equilibrium, with a good balance of buyers and product from sellers. Depending on how long it lasts, it helps slow the decline in pricing.”

New housing starts are down considerably, which is also affecting the market. March, for example, saw a 33 per cent drop in single-family home starts and a 70 per cent fall in multiple units. It will take some time before the rising demand spurs more building, because there is always a lag between an improvement in sales and starts, Yochim said.

Prince Albert and region also recorded improved home sales, which rose 25 per cent to 60 units, up from 48 last year. Dollar volume jumped 26 per cent to $12.2 million from $9.7 million last April. Listings were up a marginal two per cent, to 168 from 165. In the city itself, sales were up 41 per cent to 38. “That’s encouraging for P.A., because the market was quite depressed for a number of months,” Yochim said.

Activity was less robust in the Battlefords region. Sales rose 17 per cent in April to 35, up from 30 last April, but dollar volume dropped 35 per cent to $5 million from $8 million. Listings, however, fell seven per cent to 138.

Every market, including the strengthening Saskatoon market, comes with its own challenges for buyers and sellers, noted Yochim.  Source: May 2019 SRAR News Release 

 
Looking for sound market advice?  As REALTOR® and Nationally Accredited Buyer Representative - ABR®, Seller Representative Specialist - SRS® and Real Estate Negotiation Expert - RENE, I can provide you with this advice. Call today.
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You've probably heard the expression, "The early-bird gets the worm." It refers, of course, to those who get in early and reap the rewards. For example, if you arrive early to a retail store for a big blowout sale, you're likely to get the deals before the inventory runs out. The stragglers who come later miss out.


Well, this same wisdom can be applied to selling your home. Starting the process early — even if that means simply doing some initial planning — gives you the edge in several ways. 


First of all, you get extra time for preparation. That means you can get your home cleaned, uncluttered and staged without feeling rushed. You also get more time to find out how much your property will likely sell for on today's market. That's important information, especially if you're also looking to finance a new home.


Secondly, there's less stress. You'll have more time to make the right decisions. The last thing you want is to be scrambling around, last minute, trying to get your home ready for sale.


Finally, with your initial preparations done, you'll be able to put your home on the market at a moment's notice. That's a huge advantage that's likely to lead to selling your property more quickly and for the best price. In fact, by getting an early start on the process, you might even find that right now is the best time to list -- and you'll be able to do so, with confidence.


Want help getting an early start on selling your home? Call me.

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Imagine you’ve dreamed of living in a particular neighbourhood, perhaps for years, and then, when you're finally ready to make a move, finding out that the area is competitive and buying there is definitely a challenge.


A disappointment? Not necessarily.


There is a lot you can do to buy into a popular neighbourhood, even in competitive offer situations.


Your first step is to start targeting that area now. Find out about property types, prices and trends. In particular, you’ll need to know what price range you should be thinking about, and making sure that it’s going to fit your budget. To do that, you might need to get a determination of the Fair Market Value of your current home. 


Next, begin making preparations so you can get a jump on opportunities in that neighbourhood quickly. You don't want to see a great property come on the market and not be ready to make a move. So, get your current home in order so it’s ready for a quick listing.


If possible, make arrangements to get alerted to new listings as soon as they come on the market. Keep in mind that a new listing may not appear online for several days. By getting advance notice, you can be among the first buyers to see the home and have an early advantage over other buyers.


If it's likely there's going to be competing offers for the home you want, there are many strategies that can increase your chances of winning. These involve going in at the right price, minimizing conditions to the offer, presenting the offer appropriately, and negotiating effectively.


Is there a neighbourhood you want to get into? I can help make it happen. Call today.

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After a fairly strong February, the city of Saskatoon’s March housing market had spring in its step as both new listings and sales rose over last year, by five and 11 per cent respectively.

The Saskatoon Region Association of REALTORS® (SRAR) reported 702 listings were posted to the Multiple Listing Service® (MLS®), up from 668 last March, but significantly down from 850 in 2017.

Sales jumped 11 per cent to 258, up from 233 last year but down from 308 in March 2017. At the same time, the average selling price dropped four 
per cent to $316,445, down from just over $328,000 a year earlier, partly due to a higher proportion of entry-level home sales below $400,000. There was also a significant decrease in the number of sales recorded between $400,000 and $450,000.  Even so, the dollar volume of homes sold increased seven per cent to just over $81.6 million, up from $76.5 million a year earlier.

“We’re coming into the spring market, and the degradation of prices over the last three year has made it a little more attractive out there. People do get a little bit more optimistic in the spring,” said Jason Yochim, CEO of SRAR.

“Some of that optimism may have sprung from the federal government’s recent policy announcement regarding changes to home buyers’ plan, which provides five per cent interest-free loan on existing homes, and 10 per cent on new homes, to first-time buyers. Our industry has been lobbying for changes such as this for a long time.”
 
The Saskatoon Region, which includes smaller communities in the Census Metropolitan Area, saw a five per cent increase in listings, to 1,084 (up from 1,034 in 2017) and a four per cent increase in monthly sales, to 359 (up from 345). Listings generally begin to trend upward as March, and spring, approach.
 
Excluding Saskatoon, regional listings were flat with last March and sales fell nine per cent to 77, down from 85. The selling price dropped 12 per cent to $275,000. In 2019 so far, Saskatoon and region listings, taken together, are down two per cent to 2,675, 1,736 of those in the city proper. Sales are up two per cent to 929, up from 909 in 2018, and dollar volume has fallen one per cent to $213 million, down from $215.5 million. Active listings sat at 3,184 at the end of March, down one per cent, with 1,611 of those in Saskatoon, down four per cent.

While the 2019 market has been kinder to home sellers than in the last three years, it remains important to price properties appropriately to present conditions, said Yochim. The sales to listings ratio was 37 per cent in March, which still signifies a buyers’ market.
 
“Home sellers, not to mention buyers, can benefit from the knowledge a REALTOR® brings to a housing transaction. REALTORS® know how to help a seller arrive at a realistic price, and they are also professionals who subscribe to a strict code of ethics. They can guide sellers, and buyers, through the process, and help them make the best decisions.”

Source: April 2019 SRAR News Release 
 
Looking for sound market advice?  As REALTOR® and Nationally Accredited Buyer Representative - ABR®, Seller Representative Specialist - SRS® and Real Estate Negotiation Expert - RENE, I can provide you with this advice. Call today.
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Imagine going to a restaurant with your family for dinner. You're planning on ordering a nice pasta and salad. Your heart is set on it. But, after you go to the trouble of driving there and getting a table, you discover that pasta is not on the menu.


That’s disappointing!


Of course, it’s only a meal. You can go somewhere else next time. But, what if the same scenario played out once you had moved into a new neighborhood? Imagine you were counting on public transit being in easy walking distance, but discovered the nearest stop is four blocks away. Argh!


That's why it's important to ensure a neighborhood has the characteristics you want — before you make an offer on a home you like.


Think about what you want most in a neighborhood. Consider work, commuting, schools, playgrounds, noise level, walking and cycling, hobbies, shopping, entertainment, etc.


If there is a neighborhood feature that is very important to you, check it out for yourself. For example, if easy access to a main highway is desirable for commuting, take the route for a test drive.


You can get a lot of information on a neighborhood through the listed property's description and MLS listing.


Want more in-depth insights into an area you're considering? I have that information. Call today.

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Ideally you should have a week or two available before you list your property in order to stage your home and make it look its best for buyers. But, what if you listed quickly and within hours of the For Sale sign going up a buyer wants to view your property?


In that scenario, you need to do some quick "staging" to get your home ready. Let's assume your property is already clean and tidy. Here are some other things you can do.


· Open the curtains, even at night. This will make each room seem brighter, more appealing and more spacious.


· Pull out some boxes or storage bins. Put away personal knick-knacks (like that bowling trophy) and other personal items to reduce clutter on shelves and countertops.


· Clear countertops in the kitchen and bathrooms. Put the old toaster oven out-of-sight.


· Make sure lighting throughout the house is bright and comfortable. In darker areas, plug in a lamp.


· Clear away as much as you can in the foyer. Make that space look open, uncluttered and welcoming.


· Move cars out of the driveway. Give the buyer a convenient place to park!


· Make the beds. Fluff pillows on sofas.


· Clear away as many items as possible from the closet floors (such as shoes.)


· Open a window and air out the kitchen, especially if you just finished cooking.


· Make sure your pet is in a crate or, if possible, out for a walk. Not everyone loves pets.


These staging tips take only a few minutes each, but can make a big difference in the impression your home makes on a buyer.


Want more home selling advice? Call today.

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Despite the very cold temperatures in February, Saskatoon and region home sellers found a little warmth as new listings dropped 7% and sales rose 6%.

The Saskatoon Region Association of REALTORS® (SRAR) reported 731 homes were listed, down from 783 in the same month of last year, while sales rose to 296 from 280.

The dollar volume of homes sold through the Multiple Listing Service® (MLS®) rose 4%, to $95.8 million from $92.4 million.

Year to date, listings dropped 7% to 1,591, sales were up 1% to 570, and the dollar volume was down a marginal 1% to $180.8 million.

Excluding the region, new Saskatoon listings were down 8.6% in February to 478 — the fewest since 2013 — while sales held steady with last year, rising by one to 211. Months of inventory dropped to 6.7 from 7.5 last February

City homes listed to date in 2019, at 1,033, are at their lowest level in nine years. February statistics indicate a change in a market that has been declining for four years.


“Sales have stabilized somewhat, and inventory levels are coming down,” said Jason Yochim, CEO of SRAR. “As an optimist, I believe and hope it will continue. However, people have to be confident that the economy is improving before committing to the purchase of a home.”

He noted that while some sectors of the economy, such as potash mining, are doing well, others are less robust. “It’s not that people aren’t working; they are. But they won’t upgrade unless they have confidence in their situations.”

The average price in Saskatoon also recovered slightly to $338,268, up 2.3% from last February. Yochim cautioned that average prices can be misleading because the basket of sales in any given month can be very different from another. For example, if two or three high-priced homes sell, that can significantly skew the average. A better gauge, said Yochim, is the Home Price Index (HPI), which tracks prices over time based on a benchmark determined 15 years ago. Saskatoon’s overall HPI, including apartment-style condos, was $282,600 last month, down 3% from last year. The most expensive category, 
two-storey single-family homes, was down 1% at $356,000.

Saskatoon remains a buyers’ market, with a sales-to-listing ratio of 44; but the ratio has risen from 34 in January, for a year-to-date ratio of 40. A ratio of 50 is a balanced market, while a ratio of 60 denotes a sellers’ market.

“Even in a buyers’ market, sellers can successfully sell their homes,” said Yochim. “The most important aspect to achieving a sale is pricing a specific property to match the current market conditions. This is where the assistance of a REALTOR® comes in. Not only do REALTORS® have the knowledge to help a seller arrive at a realistic price, but they are also professionals who subscribe to a strict code of ethics. They can guide sellers, and buyers, through the process, and help them make the best decisions.”  


Source: March 2019 SRAR News Release 
 
Looking for sound market advice?  As REALTOR® and Nationally Accredited Buyer Representative - ABR®, Seller Representative Specialist - SRS® and Real Estate Negotiation Expert - RENE, I can provide you with this advice. Call today.


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Moving around the corner or even across town is relatively simple because you are likely familiar with the various neighbourhoods and you can access them anytime. If there's a listed home you want to view, you can simply go see it.


Relocating to a different town or city, however, is much more challenging. It may not be possible for you to make multiple visits to see homes for sale. You may also be unfamiliar with the various neighbourhoods.


So what do you do if you want to move out-of-town or need to relocate due to work?


Your first step is to get the information you need. You'll want up-to-date data on the neighbourhoods so you can pinpoint the ones that are the best fit for your needs and lifestyle. You'll also want to get a sense of the types of homes for sale in those neighbourhoods — style, size, features, listing price, etc.


Your next step is to schedule a day to view homes. This visit must be carefully planned so you only see those properties that are likely to be of interest. You don’t want to travel all that way only to end up seeing properties you wouldn't likely buy. What a waste of time!


So, if you’re relocating, you’ll need help. Give me a call. I can help make the relocation go smoothly for you.

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If you're thinking ahead to your next dream home, the road you need to take to get there may seem confusing. Do you search for listings online? Drop by Open Houses on the weekends? Call the number on For Sale signs?


Let's break it all down! Here are the specific steps you need to take to ensure you find a home that fits your wants, needs and budget.  


1. Find out how much your current property will likely sell for on today’s market.  


2. Arrange for financing, so you know what you can afford.


3. Select neighbourhoods you'd love to live in. (That may involve some fun exploring!)  


4. Decide on the type of home you want to buy. (For example: detached, three-bedroom, etc.)


5. Prioritize the property features you want most, so you can be flexible if a feature is missing from a home listed on the market that is otherwise ideal.


6. View properties on the market that closely fit your criteria, particularly new listings that may not yet be posted online. (Tip: Arrange to be immediately notified of new listings that are a good fit for you.)


7. When you find a home you want, make an offer designed to get the property — without overpaying.


8. Negotiate until you secure the deal. This may involve counter-offers.


9. If the negotiation is skillfully done and all goes well, the home is yours. As you can see, there isn't a lot of mystery in finding your next dream home. You just need to take the steps and get the professional help you need along the way.


Looking for a real estate agent that can get you to the finish line? Call today!

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Year over year average sale price was down 12% in January at $302,412. By comparison, the average price in January of 2017 and 2018 was $$341,260 and $344,720 respectively. The challenge with averages is that the numbers can be skewed in a given period and are therefore not a reliable reflection of pricing. For this reason, the Canadian Real Estate Association created the MLS® Home Price Index (HPI) for major cities to give a more accurate reflection of pricing trends. The HPI establishes attributes for a handful of typical housing styles; Single Family, One Storey, Two Storey, Townhouse, Apartment and a composite of all five. It then establishes a base value to each with the starting point of 2005. From that starting point, changes in value are recorded over time to get a better sense of what is happening to pricing and where prices may be trending. For example, the MLS® HPI value for a typical Single-Family home in January of 2005 was $140,400. This value reached its peak in May of 2015 at $329,500. At the end of January 2019, this value is at $304,300, down from $307,300 in last January. This indicates a less drastic decline in year over year values. By comparison, five years ago this benchmark price was $320,800 and ten years ago $268,200. For more information on HPI go to contact a member of the SRAR or visit saskatoonrealtors.ca .

The total MLS® dollar volume for sales in the Saskatoon Region for January was $84M down 6% from a year ago and comparable to 2017. In spite of this dollar volume decline, January residential home sales on the Multiple Listing Service (MLS®) in Saskatoon totaled declined by only 1% in January with 199 transactions. The region surrounding Saskatoon had 60 MLS® sales in January, only five less than last January and 18% more than January 2017. 

Residential MLS® listing totals for January was the lowest in the past six years with 555 new listings introduced to the market, 10% lower than last January. For the market surrounding Saskatoon, the number of new MLS® listings was unchanged from a year ago with 216 units listed on the market. “New listings to the market are not always houses being introduced for the first time to the market.” comments Jason Yochim, CEO of the Saskatoon Region Association of REALTORS® (SRAR). “Often new listings are homes that did not sell in the initial listing attempt and are relisted, often at a revised price.” The total number of active listings as at the end of last month was 1,450 compared with 1,529 last year. “It’s positive to see the overall number of active listings decline to prepare the way for prices to recover.” adds Yochim “some price ranges with still have a good supply to choose from while others will not. It’s important to remember that REALTORS® have the greatest access to available property” he adds. 

Source: February 2019 SRAR News Release 
 
Looking for sound market advice?  As REALTOR® and Nationally Accredited Buyer Representative - ABR®, Seller Representative Specialist - SRS® and Real Estate Negotiation Expert - RENE, I can provide you with this advice. Call today.
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Imagine you've found the perfect home. You love it. You've made an offer that's been accepted. So far so good! The only catch? You've wisely made the offer conditional on passing a professional home inspection.


What happens if that home inspection reveals a major issue?


First, you should know that, depending on the age of the property, a home inspection will typically turn up at least a few areas of concern. The inspector might find loose insulation in the attic that is thinning out or roofing shingles that will need replacing in two or three years.  


Issues like those are not usually deal-breakers.


However, if the home inspector finds a major issue — such as old wiring that's worn and presents a safety concern — then you're facing a potentially high cost of repair should the deal go through.


In a situation like that, as your real estate agent, I will address the issue with the seller, usually through the seller's agent. Since neither of you will want to lose the deal, the seller often agrees to get the repair done at his own expense or, have some or all of the estimated repair cost deducted from the sale price.


Will the deal be in jeopardy? Usually not. In most cases, if you have a real estate agent like me working in your best interests, it all works out.

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For some people, the thought of listing their home for sale is stressful. They worry about all the things they have to do — and all the things that might go wrong.


Luckily, it doesn't have to be that way. Here are some tips for making your home sale go smoothly:


· Give yourself time to prepare. If you're thinking of selling six months from now, start preparing your property now. Do any necessary staging, and get it looking its best. Avoid doing these tasks at the last minute.


· Set the right price. Pricing your property too high will likely result in few, if any, buyers coming to see it. You might end up having to lower your price later, causing your home to linger even longer on the market. That's stress you don't need!  


· Have a flexible viewing schedule. If you make it too difficult for buyers to see your property, they might lose interest or simply choose to buy another home. Be as flexible as possible when a buyer wants to view your property.


· Plan get-away activities. When a buyer comes for a scheduled viewing, don't be home. Instead, plan some fun activities for your family. Think: playground, shopping, cycling, the zoo, etc.


· Accept the ups and downs. Prospective buyers might say they love your home and plan to make an offer. Then you don't hear from them again! It happens! Accept the inevitable ups and downs of selling your home.


· Get help with repairs. You'll probably have things that need to be fixed around the home, like a dripping faucet that needs repair or a room that needs painting. If possible, hire a professional to do some of that work.


· Finally, work with a great real estate agent. That will make the biggest difference in ensuring your move goes smoothly and stress-free.


Looking for a real estate agent like that? Call me!

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December residential home sales on the Multiple Listing Service (MLS®) in Saskatoon totaled 164 transactions, 20% fewer than December of 2017 which recorded 205 residential sales. The region surrounding Saskatoon had 43 MLS® sales in December of 2018, only one less than the previous December. The total annual number of residential home sales for 2018 in Saskatoon totaled 3,329 units. This is a 5% decline compared to the total number of home transactions for 2017. This represents the fourth straight year of a decline in annual home sales in Saskatoon. By comparison there were 4,417 MLS® sales in 2014, an overall reduction of almost 25%. There was no change in the total annual sales for the surrounding region with 986 residential MLS® transactions.

The total dollar volume recorded for residential MLS® sales in Saskatoon in December was $55.6 Million, down 20% from December 2017. The total dollar volume for the entire year reached $1.108 Billion, 8% lower than 2017. The combined dollar volume for Saskatoon and region for last year was down 4% from 2017 at $1.524 Billion.

Residential MLS® listing totals for the year continued to be lower than previous years. A total of 7,956 residential listings were recorded for Saskatoon on the MLS® System in 2018. This is an 11% reduction from 2017’s total of 8,969, representing over 1,000 fewer new listings. The five-year average for new listings in a calendar year in Saskatoon is 9,081. “Even though overall sales are down, fewer new listings has helped contribute to fewer properties available to buyers in the Saskatoon market.” comments Jason Yochim, CEO of the Saskatoon Region Association of REALTORS® (SRAR). The total number of active listings at the end of the year was 1,487, consistent with the five-year average of 1,480 available properties. The highest level of active properties was in July of 2017 when there were 2,210 active listings in the city of Saskatoon “Available properties will vary depending on neighborhood, price range and style.” cautions Yochim “some price ranges with still have a good supply to choose from while others will not. 

When it comes to home price trends, the best indicator of what is happening with home prices is the Home Price Index. The Home Price Index establishes attributes for a typical single-family home with a base value in 2005. From that starting point, changes in value are recorded over time to get a better sense of what is happening to pricing and where prices may be trending. The value for the typical single-family home in January of 2005 was $140,400. This value reached its peak in May of 2015 at $329,500. At the end of December, this value is at $307,000, down from $310,900 in November. This value is virtually unchanged from a year ago, however, it has been trending downward since the middle of 2018.

Source: January 2019 SRAR News Release 
 
Looking for sound market advice?  As REALTOR® and Nationally Accredited Buyer Representative - ABR®, Seller Representative Specialist - SRS® and Real Estate Negotiation Expert - RENE, I can provide you with this advice. Call today.
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Is there an area you'd love to get into that's "hot"? In other words, an area where, as soon as a new home comes up for sale, buyers are clamouring to see it?


It can be intimidating to try to buy into a neighbourhood like that. On one hand, it's the type of area you'd love to call home. After all, there are good reasons why it's so popular! On the other hand, you might be discouraged by the competitiveness and prices. 


If you want to live in that neighbourhood, there are a couple of things you can do that will increase your chances of success.


The first is to create a strategy. Most buyers rush to see a listing in a desirable area only when it shows up on MLS — or sometimes only when it's advertised. You'll have a better chance of getting into the neighbourhood if you are alerted the moment a property comes up for sale and you have pre-arranged financing. You’ll get to the head of the line and be ready to make a credible offer.


The second option is to consider targeting other neighbourhoods with similar characteristics. You may have long-dreamed of living in Prestigious Area A, yet there might be a Hidden Gem Area B that is just as good. Maybe it’s even better!


Ultimately, your goal is to find the home you want in a neighbourhood you like. The right strategy will get you there.


Contact me for more information.

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Wouldn't it be nice if you had all the time in the world to find your next dream home? You could leisurely browse the current listings, select homes you'd like to see, schedule visits on dates that are most convenient for you, and make an offer on a property only after you've had plenty of time to consider all the alternatives.


Sure, that sometimes happens, but it's not typical. Often, people shopping for a home are on a timeline. Sometimes a very tight timeline.


So how do you find your next dream home when you don't have all the time in the world?  


First, you need to develop a clear picture of the home you're looking to buy. How many bedrooms? What size of property? What type of structure (two story, back split, etc.)? Then, you need to list your preferences. These might include "large kitchen" or "main floor office".


Once you've completed that exercise, you'll have a more detailed profile of the type of property you want. That will make it easier to decide which of the listings on the market you want to see.


You should also narrow down the area in which you'd like to live. If you have three or four targeted areas, and only consider listings in those areas, your home search will be much faster.


What if you don't know the neighbourhoods well? Visit a few. Drive around. Explore. Get as much neighbourhood data as possible, such as demographics, recreational activities, parks, shopping, schools, etc. Then choose the neighbourhoods that fit your lifestyle.


Finally, the best way to find a new home on a tight schedule is to work with the right real estate agent — someone who, like me, is experienced in the local market.


Call me anytime.

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The total number of residential home sales for the month of November in Saskatoon on the Multiple Listing Service (MLS®) totaled 203 units. This represents a 22% decline compared to the same month last year. The highest total for sales to the end of November was in 2014 reaching 4,203 transactions. This total has been steadily declining since with year to date sales at the lowest in ten years. At the end of last month there was a total of 3,167 residential MLS® transactions in the city, this is a 25% decline from the high of 2014. 

Total new residential MLS® listings has also been declining since 2015 when there were 9,411 by the end of November. The total number of residential MLS® listings for Saskatoon as of November 30th was 7,646, a 12% decline compared to last year and a 19% decrease from 2015. Total active residential listings at the end of last month was 1,716, comparable to the five-year average and slightly higher than the 10-year average of 1,388. At the current rate of sales, it would take just over 8 months to liquidate the current active listing inventory. “The months of inventory has been steadily increasing from 3.8 months in November of 2012.” comments Jason Yochim, CEO of the Saskatoon Region Association of REALTORS® (SRAR). “Even though homes in November were selling at 96.2% of the asking price, it still took two months for the average home to sell in Saskatoon” he added. The sales to new listing ratio helps to determine if it is a sellers or buyers’ market. It is considered to be a balanced market when the ratio is at 50%, a lower percentage than this is considered a buyers’ market and above, a sellers’ market. The sales to listing ratio in Saskatoon for November was 38%, favoring buyers.

Typically, when referencing home prices, the focus in real estate is often on the average price. The danger in this is that the average can be misleading and is easily skewed. Case in point, if there are more, higher priced homes that sell in a certain period than another comparable period, the average will be higher. The opposite could occur the following month resulting in a lower average. A better indicator of what is happening with home prices is the Home Price Index. The Home Price Index establishes attributes for a typical single-family home with a base value in 2005. From that starting point, changes in value are recorded over time to get a better sense of what is happening to pricing and where prices may be trending. The value for the typical single-family home in January of 2005 was $140,400. This value reached its peak in May of 2015 at $329,500. Currently this value is at $310,900. Even though this is up 0.8% from a year ago, it has been trending downward in the past 6 months very slightly.
 Source: December 2018 SRAR News Release 
 
Looking for sound market advice?  As REALTOR® and Nationally Accredited Buyer Representative - ABR®, Seller Representative Specialist - SRS® and Real Estate Negotiation Expert - RENE, I can provide you with this advice. Call today.
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Imagine this scenario...


You're shopping for a new home. You drive to visit a recent listing. As you walk through the front doors, you're impressed. Every room looks fantastic. You see yourself relaxing on the spacious patio, cooking in the modern kitchen, and enjoying evenings with the family in the cozy living room.


Your emotions are on overdrive. This is your dream home!


Should you make an offer? Probably. In fact, you should make that decision quickly in case there are other interested buyers.


However, your decision shouldn't be guided purely by emotion. You want to make sure you take practical matters into consideration too. 


For example, you'll want to consider: 


· Is the property within your price range?

· Does it have everything you need?

· Do you like the neighbourhood?

· How old is the property? Are there items, such as the furnace, that may need to be replaced soon?

· Will it need any major repairs or upgrades?

· What are the average monthly costs of carrying the home? (Property taxes, utilities, etc.)


Once you've considered the purchase of the home from a practical standpoint, you'll have a lot more confidence in your decision when you make an offer.


Need help? Call me.

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